Following the success of National Energy Efficiency and Renewable Energy Action (NEEREA) in promoting sustainable energy projects all over the country, the Central Bank of Lebanon has tailored a more detailed mechanism dedicated to environmental projects.
As part of the contract signed between the BDL and the LCEC under the name "Technical Support Consultancy Services Agreement in Energy Efficiency and Renewable Energy", the Lebanese Environmental Action (LEA) was launched to complement and build on the positive impacts NEEREA is generating in the Lebanese market.
LEA is a financing mechanism that provides the private sector in Lebanon with long-term loans at low interest rate in order to implement environmental projects. LEA finances and covers the cost of environmental measures of new projects or to enhance the conditions of an existing project to become environmentally sound. It allows private sector entities (individuals, SME’s, or corporate bodies) to apply for subsidised loans for any type of qualified environmental projects.
For new facilities, the repayment period of the loan extends for a period of 14 years (including a grace period between 6 months and 4 years).
For existing facilities, the repayment period of the loans extends for a period of 10 years (including a grace period between 6 months and 2 years).
The loans are provided through any of the Lebanese commercial banks working in Lebanon. The loan ceiling for any specific project is 30 Billion LBP.
The measures covered under LEA are: